ProShare Advisors LLC trimmed its holdings in shares of Madison Square Garden Entertainment Corp. (NYSE:MSGE – Get Rating) by 14.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,898 shares of the company's stock after selling 801 shares during the quarter. ProShare Advisors LLC's holdings in Madison Square Garden Entertainment were worth $409,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Pinnacle Associates Ltd. increased its position in Madison Square Garden Entertainment by 10.7% during the first quarter. Pinnacle Associates Ltd. now owns 6,587 shares of the company's stock worth $549,000 after acquiring an additional 634 shares during the period. Envestnet Asset Management Inc. grew its stake in Madison Square Garden Entertainment by 23.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 10,103 shares of the company's stock worth $711,000 after buying an additional 1,918 shares in the last quarter. AlphaCrest Capital Management LLC acquired a new stake in Madison Square Garden Entertainment during the fourth quarter worth about $1,152,000. WASHINGTON TRUST Co acquired a new stake in Madison Square Garden Entertainment during the first quarter worth about $125,000. Finally, New York State Common Retirement Fund grew its stake in Madison Square Garden Entertainment by 1.6% during the first quarter. New York State Common Retirement Fund now owns 254,118 shares of the company's stock worth $21,171,000 after buying an additional 4,079 shares in the last quarter. 73.58% of the stock is owned by institutional investors.
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Madison Square Garden Entertainment Trading Down 1.5 %
MSGE opened at $53.00 on Friday. The company's 50 day moving average is $57.16 and its 200-day moving average is $67.17. Madison Square Garden Entertainment Corp. has a 1-year low of $48.07 and a 1-year high of $85.60. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.85. The company has a market cap of $1.82 billion, a P/E ratio of -8.85 and a beta of 1.27.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on MSGE shares. Wolfe Research reduced their price objective on shares of Madison Square Garden Entertainment from $88.00 to $73.00 and set a "peer perform" rating on the stock in a research note on Thursday, June 2nd. Morgan Stanley reduced their price objective on shares of Madison Square Garden Entertainment from $65.00 to $63.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 15th. Finally, Guggenheim reduced their price objective on shares of Madison Square Garden Entertainment from $96.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Madison Square Garden Entertainment has an average rating of "Hold" and an average target price of $83.00.
Madison Square Garden Entertainment Company Profile
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Madison Square Garden Entertainment Corp. engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball and hockey, professional bull riding, mixed martial arts, and esports and wrestling in its venues, including Madison Square Garden, Hulu Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre, and The Chicago Theatre.
Further Reading
- Get a free copy of the StockNews.com research report on Madison Square Garden Entertainment (MSGE)
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